Tag Archives: Teaching Teens

Is Your Graduate Ready to Make Financial Decisions?

The time when you send your high school graduate out on his own is drawing near. Is your child financially prepared to function on his own? Does he realize the ins and outs of planning, saving and spending? Can he manage a workable budget? Here are five tips to help him start out on the right foot. 1) Before he goes out on his own, sit down with him and briefly outline a realistic budget with him. For this to work, he really needs to set the limits. You may want to guide the discussion by suggesting categories that he … Continue reading →

The Importance of Teaching Your Children About Money

For some families the topic of money is taboo. This is especially true in families where money is not managed very well. Although it can occur in families that do a good job saving and investing as well. Often the parents do not want to worry their children, but rather want to provide everything for them. In many instances the children will receive nearly everything they want, but end up lacking the critical skill of money management. You do not need to sit down and share every detail of your financial situation with your children. You may begin by simply … Continue reading →

Teaching Teens to Save Money

It is important to teach your children to save money. This step can be easy to do, especially if you start at an early age. Saving money will teach your children discipline. It will also help them to see that as they save their money they will have more power to do the things that they want to do. Here are five tips for teaching teens to save money. 1) Have your teenagers save towards a goal. It may be a car. It may be a high school trip. If you discuss the goal with your child, and make a … Continue reading →

Teaching Teens to Manage Money by Limiting Handouts

One of the most important things you can do to teach your children to manage money is to limit the amount of money that you give them each month. This is important because it gives them the opportunity to learn to plan ahead, and watch how they spend their money. It also encourages them to shop wisely. This may seem difficult to do and your teenager may complain when you do so. Here are five tips when beginning to start a set amount that you will give each month. 1) First sit down and discuss with your child the amount … Continue reading →